The economic policy package indicated by China's NPC actually hides signals that are more important for the cryptocurrency market than expected. If you only focus on the headline growth target of 4.5% to 5%, you will miss the true meaning.

Looking at the numbers, China's economic scale surpassed $20 trillion for the first time in 2025. This alone is significant, but what’s even more noteworthy is that approximately $900 billion worth of economic activity is newly added this year alone. This is comparable to the economic size of countries like the Netherlands, Saudi Arabia, and Switzerland. Although the growth rate is slowing, the absolute value is not shrinking. This difference is highly visible in the market.

By 2025, China played the role of a growth engine accounting for about 30% of the global economic growth. Even if 2026 only reaches the lower end of the target, this ratio is likely to be maintained. Given the scale, even slight fluctuations can move the global market.

Regarding the real estate sector, Beijing did not take drastic rescue measures. Instead, it indicated a policy of orderly risk resolution. The white list system for housing projects will continue, but active economic stimulus will not be implemented. This cautious stance is suppressing short-term demand expectations for iron ore and copper.

What is truly important for cryptocurrency investors is the direction of Beijing’s monetary easing measures. Reductions in reserve requirement ratios and interest rates are presented as active options. The total expenditure of the general government budget has reached 30 trillion yuan for the first time, with an overall deficit of 5.89 trillion yuan. This means improved liquidity for China’s digital asset market.

The most overlooked aspect is the stability of the renminbi. Beijing has indicated a policy of essentially stabilizing the renminbi against the US dollar, tolerating a slightly stronger renminbi controlled around 6.70. They are rejecting rapid fluctuations. Historically, downward pressure on the renminbi has driven individual investors toward Bitcoin and dollar-pegged stablecoins. If the renminbi stabilizes, this capital outflow pressure will be alleviated. In other words, the liquidity structure of China’s digital asset market could change.

At the same time, the 15th Five-Year Plan announced cannot be ignored. It presents a strategic framework until 2030, shifting from the previous focus on “technological innovation” to “modernized industrial systems” taking the front line. This aims to turn breakthroughs in research labs into scalable production capacity.

The core of this plan is to increase R&D spending to over 3.2% of GDP, which is the highest level ever. Priority areas include advanced manufacturing, semiconductors, next-generation IT, and aerospace.

Most relevant to the cryptocurrency market is the goal that digital economy will account for 12.5% of GDP by 2030, along with the embedded “AI Plus” consumption model. This planning cycle focuses more on redesigning the economic system itself rather than accelerating growth. Even a cautious reconstruction of this $20 trillion economy could have an immeasurable ripple effect on the global market.